Maine Real Estate License Practice Exam

What is the primary concern for a property manager in a multifamily building regarding tenant policies?

1. Maximizing rent income at all costs

2. Ensuring tenant satisfaction over all

3. Compliance with laws governing housing and discrimination

4. Minimizing vacancies to maintain income

The correct answer is: Compliance with laws governing housing and discrimination

The focus on compliance with laws governing housing and discrimination as the primary concern for a property manager in a multifamily building is essential. Property managers must ensure that all tenant policies adhere to federal, state, and local regulations, including fair housing laws, which prohibit discrimination based on race, color, national origin, religion, sex, familial status, and disability. Adhering to these laws is crucial not only to avoid legal repercussions but also to foster a fair and inclusive living environment for all tenants. Effective property management involves understanding and implementing these regulations to protect both the tenants’ rights and the property management company from potential lawsuits. Thus, a thorough understanding of housing laws ensures that all practices are fair and equitable, which ultimately leads to a more stable and satisfied tenant base. In contrast, while maximizing rent income, ensuring tenant satisfaction, and minimizing vacancies are all important aspects of property management, they do not take precedence over legal compliance. Non-compliance can lead to serious legal ramifications, making it imperative for property managers to prioritize adherence to laws governing housing and discrimination.